Savannah Resources PLC Bulk Sampling Underway,Portugal (1438M)
26 April 2018 - 4:00PM
UK Regulatory
TIDMSAV
RNS Number : 1438M
Savannah Resources PLC
26 April 2018
26 April 2018
Savannah Resources Plc
Bulk Sampling Underway to Identify Additional Revenue
Stream,
Mina do Barroso Lithium Project, Portugal
Savannah Resources plc (AIM: SAV and SWB: SAV) ('Savannah' or
the 'Company'), a resource development company, is pleased to
announce that the collection of a bulk sample is underway at the
NOA Deposit, which is one of three primary target areas currently
being advanced at the Mina do Barroso Lithium Project ('Mina do
Barroso' or the 'Project') in northern Portugal (Figure 1). To view
the press release with photos showing the bulk sample underway,
please use the following link:
http://www.rns-pdf.londonstockexchange.com/rns/1438M_-2018-4-25.pdf
HIGHLIGHTS:
-- Savannah has identified an opportunity to potentially
generate additional revenues via the sale of feldspar/quartz (used
in ceramics), alongside the core sale of battery-grade spodumene
concentrates
-- The collection of a bulk sample is underway at NOA, utilising
35t excavators as part of the larger development programme for the
Project
-- The key objective of the bulk sampling is to obtain a large
sample of material for test work for both the ceramics and lithium
markets
-- The bulk sample is being collected inside one of Mina do Barroso's licenced mining areas
-- Material from the bulk sample will be evaluated in the
on-going metallurgical test work programme currently underway at
Nagrom's facility, located in Perth
-- The test marketing of feldspar/quartz will also help guide
plans for the potential sale of the primary lithium spodumene
product for export markets
Savannah's CEO, David Archer said: "The commencement of bulk
sampling at Mina do Barroso marks the next stage in our strategy,
as we advance the Project towards the production of export grade
spodumene concentrates for European and international markets.
"The feldspar/quartz component from the bulk sample will help
validate the possibility of selling this as a co-product, which
will not only generate supplemental revenues but will potentially
also help to reduce stored volumes of coarse rejects and tailings
produced from the concentration process of our anticipated lithium
mine development. We think this approach holds clear commercial,
operational and environmental benefits for the larger development.
Portugal has a vibrant ceramics industry and lithium enriched
feldspar/quartz is a sought-after material."
Figure 1. Bulk sampling activities underway at the NOA Deposit -
See PDF
Source: Company photograph
Figure 2. Bulk sampling activities underway at the NOA Deposit -
See PDF
Source: Company photograph
Competent Person and Regulatory Information
The information in this announcement that relates to exploration
results is based upon information compiled by Mr Dale Ferguson,
Technical Director of Savannah Resources Limited. Mr Ferguson is a
Member of the Australasian Institute of Mining and Metallurgy
(AusIMM) and has sufficient experience which is relevant to the
style of mineralisation and type of deposit under consideration and
to the activity which he is undertaking to qualify as a Competent
Person as defined in the December 2012 edition of the "Australasian
Code for Reporting of Exploration Results, Mineral Resources and
Ore Reserves" (JORC Code). Mr Ferguson consents to the inclusion in
the report of the matters based upon the information in the form
and context in which it appears.
This announcement contains inside information for the purposes
of Article 7 of Regulation (EU) 596/2014.
**ENDS**
For further information please visit www.savannahresources.com
or contact:
David Archer Savannah Resources Tel: +44 20
plc 7117 2489
David Hignell / Dugald Northland Capital Tel: +44 20
J. Carlean (Nominated Partners Ltd 3861 6625
Adviser)
Christopher Raggett finnCap Ltd Tel: +44 20
/ Emily Morris (Broker) 7220 0500
Charlotte Page / St Brides Partners Tel: +44 20
Lottie Wadham Ltd 7236 1177
(Financial PR)
About Savannah
We are a diversified resources group (AIM: SAV) with a portfolio
of energy metals projects - lithium in Portugal and copper in Oman
- together with the world-class Mutamba Heavy Mineral Sands Project
in Mozambique, which is being developed in a consortium with the
global major Rio Tinto. We are committed to serving the interests
of our shareholders and to delivering outcomes that will improve
the lives of our staff and the communities we work with.
The group is listed and regulated on AIM and the Company's
ordinary shares are also available on the Börse Stuttgart (SWB)
under the ticker "SAV".
This information is provided by RNS
The company news service from the London Stock Exchange
END
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